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I put $200 on the winning horse at the Kentuck derby. how much did I win? Will I have to pay tax?

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I put $200 on the winning horse at the Kentuck derby. how much did I win? Will I have to pay tax?

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  1. The win Paid: $11.80 for every $2 wager..

    Or $118.00 for a $20. twenty dollar bet

    or

    $1,180.00 for a $200. bet.. so you can expect:

    $1,180.00  return.

    Paying Tax depends on how you bet it ( IM NOT A TAX MAN ) But Ive won at the track before..

    When you win over $600 -on one ( 1 ) ticket- theres a tax form you fill out..

    If the whole $200 was on one ticket..you'll get such a form.

    If the $200 was spread out over like 10 seperate tickets at a $20 bet on each one of them..

    you can cash all of them seperate - and avoid getting one of the forms.

    Congrats !!!


  2. Congratulations! Need any new friends?

  3. sure you did

  4. If you seriously put $200 on any horse at the Derby, and do not know the answer to your question. you are either lying or stupid.
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